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ravishankaray

11,084 Posts.

29/08/14

21:31

Post #: 13897719
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Originally posted by Raven2014 ↑

I do agree Raven they better start keeping promises/milestones shortly [Ref: ikikyabut]

Iky, When seeking the votes well over two (2) years ago, they (Chairman/MD) started to refer CTP as being your company, the word “your” used on more than a few occasions. Now that they have been voted in, the word “your” has never once being used.

When seeking the votes, they used the past performances of the share price as a catalyst to gain votes. However, Your Chairman Dr Henry Askin, in a 2012 letter to shareholders also stated that the company (CTP) was in “excellent shape”. I repeat, “excellent shape” yet we were told once they got voted in that the bean counter deal with Santos had to be done. It begs the question, why did the Ex Chairman state the "excellent" statement when weeks later Mr Cottee’s stated the bean counter deal that just had to happen to Santos?

Your Ex Chairman, Dr Henry Askin during same letter stated to the effect that recent settlement of an $11 million institutional placement provides an immediate injection of cash to "your" Company and underpins the funding currently needed for the planned appraisal work at the Surprise discovery. The capital injection also ensures that we are adequately funded to be able to properly assess and finalise ongoing farm-in discussions.

I do bring your attention to the word “your "company again as used by your Ex Chaiman Dr Henry Askin. When was the last time you all heard this word "your", when they were seeking sympathetic votes?

Many may have felt mislead, I certainly did and do, I could go on and extract many more examples of commitment only to have them but for me. Iky, no offence but they (CTP) should have stated twelve (12) months ago, not "better start" as you have artistically stated.

Regardsless and as far as I am personally concerned, yet another missed deadline.

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From Santos JV announcement, Oct 2012,

"Mr Cottee said shareholders could take comfort from the fact that the urgent need to
raise capital to meet exploration commitments had now dissipated. "

The early cash flow from Surprise was supposed to cover such costs.

CTP Price at posting: 34.0¢ Sentiment: Hold Disclosure: Held
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North West Mereenie JV, page-12

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North West Mereenie JV, page-12

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